H.R. 9906 — FIXER Act

This section establishes an elective exception from the private activity bond volume cap for exempt facility bonds financing qualified residential rental projects. It applies to bonds using 95 percent or more of proceeds to preserve, improve, or replace qualified low-income buildings after the compliance period but before the extended use period ends, federally assisted buildings, or state-assisted buildings. It raises the threshold for acquisition of existing property from 15 percent to 50 percent and excepts such bonds from the low-income housing tax credit volume limitation. The changes apply to bonds issued after enactment.